Cohen & Steers Terminates Material Agreement
Ticker: CNS · Form: 8-K · Filed: Apr 23, 2024 · CIK: 1284812
Sentiment: neutral
Topics: agreement-termination, regulation-fd, financial-statements
TL;DR
Cohen & Steers terminated a big deal. Details TBD.
AI Summary
Cohen & Steers, Inc. filed an 8-K on April 23, 2024, reporting the termination of a material definitive agreement as of April 22, 2024. The filing also includes Regulation FD disclosures and financial statements/exhibits. No specific details on the agreement or financial impact were provided in this initial report.
Why It Matters
The termination of a material definitive agreement could signal a significant change in the company's operations or strategic partnerships, potentially impacting future revenue or business structure.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement can indicate underlying business issues or strategic shifts that may carry financial or operational risks.
Key Players & Entities
- Cohen & Steers, Inc. (company) — Registrant
- April 22, 2024 (date) — Date of earliest event reported
- April 23, 2024 (date) — Date of report
- 1166 Avenue of the Americas (location) — Principal executive offices address
FAQ
What was the material definitive agreement that was terminated?
The filing does not specify the details of the material definitive agreement that was terminated.
What is the effective date of the termination?
The termination of the material definitive agreement was effective as of April 22, 2024.
What is the purpose of filing this 8-K?
This 8-K is filed to report the termination of a material definitive agreement, provide Regulation FD disclosures, and include financial statements and exhibits.
Where are Cohen & Steers, Inc.'s principal executive offices located?
Cohen & Steers, Inc.'s principal executive offices are located at 1166 Avenue of the Americas, New York, NY 10036.
When was this report filed with the SEC?
This report was filed with the SEC on April 23, 2024.
Filing Stats: 682 words · 3 min read · ~2 pages · Grade level 10.3 · Accepted 2024-04-22 18:36:39
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value CNS New York Stock Exchange
- $100,000,000 — ng an aggregate offering price of up to $100,000,000 through BofA Securities, acting as its
- $69.60 — agent, at an average price per share of $69.60. The expected net proceeds to Cohen & S
- $68.4 million — ed offering expenses, are approximately $68.4 million. A copy of the press release is being
Filing Documents
- cns-20240422.htm (8-K) — 25KB
- ex991.htm (EX-99.1) — 9KB
- cnslogo21.jpg (GRAPHIC) — 12KB
- 0001284812-24-000191.txt ( ) — 174KB
- cns-20240422.xsd (EX-101.SCH) — 2KB
- cns-20240422_lab.xml (EX-101.LAB) — 21KB
- cns-20240422_pre.xml (EX-101.PRE) — 12KB
- cns-20240422_htm.xml (XML) — 3KB
02. Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement. As previously disclosed on April 22, 2024, Cohen & Steers, Inc. (the "Company") entered into an ATM Equity Offering Sales Agreement (the "Sales Agreement") with BofA Securities, Inc. ("BofA Securities"), pursuant to which the Company may offer and sell, from time to time, shares of its common stock, par value $0.01 per share (the "Shares") having an aggregate offering price of up to $100,000,000 through BofA Securities, acting as its agent, or directly to BofA Securities, acting as principal. On April 22, 2024, the Company delivered written notice to BofA Securities that it was terminating the Sales Agreement, effective April 22, 2024, pursuant to Section 9(a) of the Sales Agreement. The foregoing summary of the Sales Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Sales Agreement, a copy of which was filed as Exhibit 1.1 to the Company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on April 22, 2024 and is incorporated herein by reference.
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On April 22, 2024, the Company issued a press release announcing that the Company has offered and sold 1,007,057 Shares through its "at-the-market" equity offering program. The Shares were offered and sold through BofA Securities, as sales agent, at an average price per share of $69.60. The expected net proceeds to Cohen & Steers, after deducting commissions and estimated offering expenses, are approximately $68.4 million. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. The exhibit listed on the exhibit index accompanying this Current Report on Form 8-K is furnished herewith. EXHIBIT INDEX Exhibit No. Description 99.1 Press release dated April 22, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Cohen & Steers, Inc. (Registrant) Date: April 23, 2024 By: /s/ Francis C. Poli Francis C. Poli Title: Executive Vice President, General Counsel and Secretary